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Investing.com -- Brazilian oil company Prio announced Monday that Brazil’s national petroleum regulator ANP has ordered a production halt at the Peregrino FPSO.
The regulator cited the need for improvements in risk management documentation and the unit’s deluge system as reasons for the shutdown, according to a securities filing from Prio.
The Peregrino facility is currently operated by Norway’s Equinor, which has already begun implementing the necessary adjustments to address the regulator’s concerns. Prio indicated that the required work is expected to take between three and six weeks to complete.
Prio, which serves as a partner in the Peregrino consortium, is set to become the operator of the oil field after agreeing earlier this year to acquire Equinor’s stake in the project.
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